Bitcoin rises more than 4% as crypto market gains

Bitcoin rose by more than 4% on August 25, while Ethereum also posted gains, according to data from the Binance cryptocurrency exchange cited by TASS.

As of 10:10 a.m. Baku time, Bitcoin was up 4.13% at $80,756, while Ethereum had gained 1.89% to reach $2,508.

According to CoinMarketCap data, the total capitalisation of the cryptocurrency market stood at $2.71 trillion as of August 25. Bitcoin accounted for $1.62 trillion, or 59.9% of the total, while Ethereum represented $302.52 billion, or 11.2%.

Meanwhile, data from Coinglass showed that cryptocurrency exchanges worldwide liquidated positions held by more than 96,000 traders over the previous 24 hours, with the total value of liquidations reaching $647.91 million.

Of the total, approximately $191.31 million involved long positions, while $456.61 million involved short positions. Most of the liquidations were related to Bitcoin.

The largest liquidation order over the past 24 hours was recorded on the Bitget exchange in the BTCUSDT_UMCBL trading pair, with a value of $103.54 million.